From left, Peter Judkins and Richard Walker. Submitted photo

FARMINGTON – Richard Walker has announced his retirement as Chairman of the Franklin Savings Bank Board of Directors. Walker, who was elected chairman in 2017, has been a member of the board since 1991.

“It has been a true pleasure to serve on the Board of Directors of Franklin Savings Bank,” said Walker. “Being elected as Chairman of the Board was an honor.”

Former Bank President, Peter Judkins of Farmington, has been elected by the Board of Directors to assume the Chairmanship for the Board in January of 2022.

“Franklin Savings Bank is a pillar in the communities we serve. We take great pleasure in helping our neighbors succeed and accomplish their financial visions,” said Walker. “It’s bittersweet to retire from this influential Board of Directors but I am confident that Peter will ensure a seamless transition.”

“Rick has been a strong leader as Chairman and after serving on the board for 30 years, he knows the ins and outs of Franklin Savings Bank and he will be missed on the Board,” said President and CEO Tim Thompson.

Walker recently sold his accounting, audit, tax and consulting practice and home in Rangeley and has relocated to the coast of Maine with his wife, Anne.


In 2017, Judkins retired as President and CEO of the Bank and has continued to serve on the Bank’s Board of Directors. Judkins served as President and CEO for twelve years.

“Franklin Savings Bank is near and dear to my heart, along with the Maine communities the bank serves,” said Judkins. “The mission of Franklin Savings Bank is something I take very seriously and I look forward to ensuring that it continues to be a strong and independent community bank for generations to come.”

Judkins has an extensive background in the financial industry including serving on the Board of Directors for the Federal Reserve Bank of Boston where he was the Chairman of the Audit Committee. Judkins also serves on the Board of the Franklin Community Health Network.

Also retiring from the Bank’s Board of Directors is former Bank President & CEO, Gary Downs. Downs retired from the bank as President & CEO in 2005. He has served 16 additional years as Chairman of the Mutual Holding Company and will always be an integral part of Franklin Savings Bank’s historical success.

“I am proud of the work that we accomplished and the success the bank has had and continues to have. The bank wouldn’t be what it is today without the committed employees that have always shown up everyday living the FSB values and breathing the FSB culture,” said Downs. “The FSB workforce and workplace is unique and very special.”

Downs resides half the year in Bonita Springs, Florida and the other half on the lake in Industry, Maine, with his wife Jean.

Franklin Savings Bank is a community bank founded in 1868 which serves the western, central, and Downeast regions of Maine from eight locations.

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